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India plans tariff hike on 30 US products

The US added tariff on steel and aluminium which will cost India $241 million- a reciprocal amount that India will impose on the US. Pic for representational purpose only.The US added tariff on steel and aluminium which will cost India $241 million- a reciprocal amount that India will impose on the US. Pic for representational purpose only.

In response to duties imposed by the United States government on certain steel and aluminium products, India has responded by sibmitting a revised list of 30 items - including motor cycle, certain iron and steel goods, boric acid and lentils - to the World Trade Organisation (WTO) on which it proposes to raise customs duty by up to 50 per cent.

The US added tariff on steel and aluminium which will cost India $241 million- a reciprocal amount that India will impose on the US.

India's statement to WTO: "The revision is being provided to adjust the products and the tariff rates in accordance with India's rights reserved vide its notification to the Council for Trade in Goods contained in the WTO document...of May 18, 2018.

"India hereby reiterates its decision to suspend concessions or other obligations notified to the Council for Trade in Goods on May 18, 2018...of the General Agreement on Tariffs and Trade 1994 and Article 8.2 of the Agreement on Safeguards, that are substantially equivalent to the amount of trade affected by the measures imposed by the United States."


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